Payroll

National Payroll Week celebrates America’s 150 million hard-working wage earners and the payroll professionals who pay them. Founded by The American Payroll Association in 1996, it has quickly become an important remembrance over the Labor Day holiday.

National Payroll Week coincides with the celebration of Labor Day for a reason, as it’s a holiday celebrating the economic, cultural, and social achievements of workers and the significance of “an honest day’s work for an honest day’s pay.”

InfinityHR celebrates its clients, and employees, who exemplify this ‘honest day’s work’ mantra.

Did you know that National Payroll Week also has its own official song? It’s quite catchy – check it out here!

Having a one-stop shop for payroll is optimal for companies and employees, but converging payroll and HR management systems into one software platform is a complex task. Payroll systems must store employee data, pay and benefits, compensation history, and other information. Payroll is an area that HR must get right, all the time. Many business leaders may be reticent to change their payroll systems in fear of disrupting pay schedules. According to the Sierra-Cedar survey, surveyed organizations identified a number of continuing payroll challenges, including: reporting functionality, actual payroll functionality, integration, and poor service and support.

To adapt to these challenges, HR must see itself as a platform that provides services, tools, information, and real-time data to employees and managers. Bersin wrote that “an effective option is to build an integrated employee experience platform, one built on apps and an integrated backend.” This platform mentality matches the end users’ expectation that an application should seamlessly integrate from system to system. This standardization can help improve performance, decrease redundancy, and reduce human error in businesses. As an example, with HR and payroll systems synced together, double data entry can be avoided, thus reducing the HR workload. In the end, this simple mindset and platform approach can provide businesses a foundation to make complex decisions by easily pulling and working with data from their applications. Working through the “cloud” is one technological advance that can greatly enhance this platform approach.

Download our free guide to learn more on the Convergence of Payroll and Human Resource Systems.

A decade ago, HR systems were designed around better tracking for payroll and benefits for HR professionals. Today’s expectations are different, and HR systems must now be designed with the employee in mind.

The worlds of payroll, HR, and business management are converging as companies adopt integrated solutions to control costs, improve efficiency, and maintain employee engagement. The convergence of cloud-based HR systems and payroll is one area of opportunity that can help you and your customers stay competitive now and into the future.

InfinityHR is one such turnkey system that can help HR executives and administrators access payroll and manage all HR data—hire to retire—in one system.

Join our webinar on March 28, 2017 learn more about how InfintyHR’s cloud-based technologies can advance your business.

Technology changes fast, and each successive generation’s expectations are quickly reshaping how human resources works with employees. In order to adapt, businesses must simplify their HR strategies to gain efficiency, reduce costs, and maintain employee engagement. The convergence of cloud-based HR systems and payroll is one area of opportunity that can help businesses stay competitive now and into the future.

Key Takeaways:

Understand how new technology and employee expectations are shaping HR strategy

Analyze how improving payroll processes can increase competitiveness and advance the employee experience

Your business has many options when it comes to managing payroll and one popular model is to use HRMS payroll management. Managing your payroll within your HRMS is often your best bet. Integrated HR payroll synchronizes data between payroll and the HRMS. It runs across a spectrum, from light integration through file exchanges to deep integration through a web services interface. In some cases, especially with small to medium sized companies, the light integration is a perfectly workable solution.

There are many reasons why managing payroll through your HRMS is not just a good idea, but a good business practice as well.

One Set of Data – A single platform can centralize all of your processes, such as local payroll requirements or multiple offices, as well as provide the opportunity to establish new processes, delegate tasks and report on productivity.

One System = Less Effort to Keep Everything in Sync – Interfacing data can cost a lot of money, from design and analysis costs to maintaining file transfers to resources needed to investigate when things go wrong. Integrating your payroll, benefits, talent management, recruitment and employee self-service all in one platform can save valuable time, resources, and ultimately money.

Seamless Accounting – Finance and Accounting looks at the big picture view of an organization’s finances and relies on accurate data from all teams, including HR and Payroll. The right payroll software will have API’s that can interface with accounting software.

To learn more about InfinityHR’s integrated HRMS and payroll options, sign up for a live demo here or send […]

InfinityHR will be in attendance at The Payroll Group’s 2015 Annual Conference starting tomorrow. The event, which is held from May 6-8 in Phoenix, AZ, brings together independent payroll service providers from across the country to help reduce overhead costs, share success stories and develop common methods to better serve their payroll clients. If you will be at the conference, please stop by table 15 and say hello!

InfinityHR will be in attendance at The Payroll Group’s 2015 Annual Conference next week. The event, which is held from May 6-8 in Phoenix, AZ, brings together independent payroll service providers from across the country to help reduce overhead costs, share success stories and develop common methods to better serve their payroll clients. If you will be at the conference, please stop by and say hello.